In January this year, the National Development and Reform Commission and the Ministry of Ecology and Environment jointly issued the "Opinions on Further Strengthening the Control of Plastic Pollution", which set off a new upsurge in the plastic restriction order. The new version of the Plastic Restriction Order points out that by the end of 2020, my country will take the lead in banning and restricting the production, sales and use of some plastic products in some regions and areas. By the end of 2022, the consumption of disposable plastic products will be significantly reduced and alternative products will be promoted. .
This is undoubtedly an opportunity for China's plastics industry.
According to Cinda Securities, the demand for biodegradable plastics in my country is expected to reach 1.3 million tons by 2025. In the next five years, driven by the ban on plastics, the demand for degradable plastics in my country will increase substantially. Guosen Securities also predicts that the four key application areas of disposable tableware, disposable plastic bags, agricultural mulch and packaging plastic film have a total potential demand of 10.17 million tons. The penetration rate of biodegradable plastics in China is only 0.62%, and the scale of 100 billion yuan seems to be in sight.
The potential demand seems to have injected a dose of stimulant into this market. Up to now, 30 provinces across the country have successively released local versions of implementation plans to strengthen plastic pollution control.